Jefferies Group reiterated their buy rating on shares of Magellan Health Services Inc. (NASDAQ:MGLN) in a research report released on Friday. Jefferies Group currently has a $78.00 price target on the stock.

Other equities analysts have also issued research reports about the company. Zacks Investment Research raised Magellan Health Services from a hold rating to a buy rating and set a $77.00 target price for the company in a research report on Thursday, July 21st. Leerink Swann reissued a hold rating on shares of Magellan Health Services in a research report on Friday, August 12th. Finally, TheStreet lowered Magellan Health Services from a buy rating to a hold rating in a research report on Friday, August 19th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, one has given a buy rating and one has assigned a strong buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $71.33.

Magellan Health Services (NASDAQ:MGLN) traded up 0.07% during trading on Friday, hitting $68.15. 25,813 shares of the stock were exchanged. Magellan Health Services has a 1-year low of $49.50 and a 1-year high of $72.31. The firm has a market capitalization of $1.58 billion, a price-to-earnings ratio of 23.82 and a beta of 0.48. The company has a 50-day moving average price of $55.51 and a 200 day moving average price of $60.84.

Magellan Health Services (NASDAQ:MGLN) last issued its earnings results on Wednesday, November 9th. The company reported $1.39 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.67 by $0.72. Magellan Health Services had a return on equity of 7.96% and a net margin of 1.45%. The business earned $1.29 billion during the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the previous year, the firm earned $0.76 EPS. Magellan Health Services’s revenue was up 8.6% on a year-over-year basis. Equities analysts predict that Magellan Health Services will post $2.89 earnings per share for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD raised its stake in Magellan Health Services by 40.4% in the third quarter. Price T Rowe Associates Inc. MD now owns 12,170 shares of the company’s stock valued at $654,000 after buying an additional 3,500 shares in the last quarter. Credit Suisse AG raised its stake in Magellan Health Services by 43.4% in the third quarter. Credit Suisse AG now owns 68,599 shares of the company’s stock valued at $3,685,000 after buying an additional 20,774 shares in the last quarter. Panagora Asset Management Inc. raised its stake in Magellan Health Services by 50.9% in the third quarter. Panagora Asset Management Inc. now owns 82,525 shares of the company’s stock valued at $4,434,000 after buying an additional 27,846 shares in the last quarter. Highbridge Capital Management LLC raised its stake in Magellan Health Services by 131.7% in the third quarter. Highbridge Capital Management LLC now owns 11,182 shares of the company’s stock valued at $601,000 after buying an additional 6,356 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. raised its stake in Magellan Health Services by 10.4% in the third quarter. D. E. Shaw & Co. Inc. now owns 168,769 shares of the company’s stock valued at $9,068,000 after buying an additional 15,846 shares in the last quarter. 91.96% of the stock is owned by institutional investors.

Magellan Health Services Company Profile

Magellan Health, Inc is engaged in the healthcare management business. The Company’s segments include Healthcare, Pharmacy Management and Corporate. It is focused on managing special populations, complete pharmacy benefits and other specialty areas of healthcare. Its Healthcare includes its management of behavioral healthcare services and employee assistance program (EAP) services, management of other specialty areas, including diagnostic imaging and musculoskeletal management, and the integrated management of physical, behavioral and pharmaceutical healthcare for special populations, delivered through Magellan Complete Care (MCC).

5 Day Chart for NASDAQ:MGLN

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